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Oil and Gas

IEA flags risk of higher oil prices, cuts 2024 demand view

by Walter Watson
IEA flags risk of higher oil prices, cuts 2024 demand view

Anton Petrus | Moment | Getty Images The International Energy Agency (IEA) on Friday said OPEC+ supply cuts could erode inventories in the rest of this year, potentially driving prices …

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Regulator slows Trans Mountain proposal for higher shipping fees

by Vera Ward
Regulator slows Trans Mountain proposal for higher shipping fees

Canada’s energy regulator has rejected Trans Mountain’s request to fast-track a near-threefold hike in shipping fees to energy companies, meant to help the embattled pipeline offset its ballooning costs. Trans …

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sharp drop in second-quarter profit

by Walter Watson
sharp drop in second-quarter profit

Saudi state oil giant Aramco reported 112.81 billion riyal ($30.07 billion) in net profit in the second quarter, a drop of nearly 40% from the $48.4 billion recorded in the …

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Oil prices rise after Saudi, Russia cuts and Russian oil export hub attack

by Walter Watson
Oil prices rise after Saudi, Russia cuts and Russian oil export hub attack

Bill Ross | The Image Bank | Getty Images Oil prices surged Monday to their highest since mid-April, following an attack on a key Russian oil export hub and extended …

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U.K. leader Rishi Sunak’s house turned black by Greenpeace activists protesting oil “drilling frenzy”

by Walter Watson
U.K. leader Rishi Sunak’s house turned black by Greenpeace activists protesting oil “drilling frenzy”

London — Climate activists draped U.K. Prime Minister Rishi Sunak’s northern England home in about 200 yards of jet black fabric Thursday in a protest against the British government’s policy …

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Oil heads for its best monthly gain in more than a year. How to trade it

by Walter Watson
Oil heads for its best monthly gain in more than a year. How to trade it

Oil prices have been on a tear this month, and it could mean good news for certain stocks. Crude rallied in July after top exporters Saudi Arabia and Russia announced …

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Saudi Arabia’s economic growth slows as oil cuts, price drops bite

by Walter Watson
Saudi Arabia’s economic growth slows as oil cuts, price drops bite

Cityscape of Saudi capital Riyadh. Harri Jarvelainen Photography | Moment | Getty Images Saudi Arabia’s economy slowed in the second quarter, as crude output cuts and a drop in oil …

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Strong gas business helps to cushion Eni profit fall

by Walter Watson
Strong gas business helps to cushion Eni profit fall

The logo of Italian multinational oil and gas company is displayed on a fuel tanker truck parked outside an Eni petrol station in Cyprus’ capital Nicosia on September 9, 2022. …

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July is set to be hottest month ever recorded, U.N. says, citing latest temperature data

by Walter Watson
July is set to be hottest month ever recorded, U.N. says, citing latest temperature data

United Nations — The United Nations said Thursday that new data from its World Meteorological Organization, gathered in partnership with the European Copernicus Climate Change Service, shows July will be the hottest …

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OPEC+ alliance will break, sending oil prices lower

by Ron Morgan
OPEC+ alliance will break, sending oil prices lower

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman speaks during the 8th OPEC International Seminar in Vienna, Austria, July 5, 2023. Xinhua News Agency | Xinhua News Agency | Getty …

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